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Foundation Poised to Help CUs Impacted by Tornadoes
Monday, May 1, 2017 7:00 AM

Cornerstone Credit Union Foundation

The Cornerstone Credit Union Foundation reminds credit unions that it is poised to help credit union board members and staff impacted by the recent tornadoes in Arkansas, Oklahoma, and Texas.

“In times of crisis, the Foundation is here to help our credit union board members and employees get back on their feet so they can be there for their members," says Foundation Executive Director Courtney Moran.

As a reminder, the Foundation's Disaster Relief Program is carried out in three phases.

Phase One
Emergency grants are provided to credit union employees to assist with immediate disaster relief needs, such as out-of-pocket costs that may result from being evacuated. These grants are up to $1,000 per credit union board member or employee for up to 60 days after the disaster struck. The intent of these grants is to help stabilize the individual's situation so they are able to return to work.

Phase Two
Disaster relief grants are intended to assist credit union boards and employees with significant needs. Phase Two will be implemented following the distribution of Phase One grants. Amounts of grants will be dependent on the amount of disaster relief funds available, but usually range from $1,000 to $5,000. The Foundation will issue a call to the CEOs of affected credit unions for Phase Two grant applications, beginning 90 days after disaster has struck.

Phase Three
Phase Three grants are intended to follow up with those credit union board members and employees who suffered catastrophic loss and are still needing assistance after Phase Two grants have been distributed. Phase Three will begin 180 days after the respective disaster.

If your credit union staff has sustained damage from the storms, please contact the Cornerstone Credit Union Foundation at 800-953-8283 or view the disaster relief application via the website, cscuf.coop/apply_for_grants.